Contract awards 27 October 2010

Biggest contract: $1.8bn

Awarded to consortium led by US-based Bechtel to build the main terminal at Muscat International airport

$3bn: Value of major contract awards

5: Number of contracts awarded

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The total value of major projects planned or under way in the Gulf on 27 October reached $2.93 trillion, a fall of 0.1 per cent on the previous week’s total, according to the latest Gulf Projects index.

The index shows that the GCC market fell by 0.1 per cent to $2.29 trillion as a result of several large projects in the UAE and Saudi Arabia being put on hold.

Upcoming tender deadlines
  Client Contract Submission date
Kuwait  Kuwait University Faculty of Arts & Education 9-Nov
Kuwait  Ministry of Electricity & Water Al-Zour South power plant 9-Nov
Saudi Arabia Saudi Aramco Shaybah co-generation plant 22-Nov
Saudi Arabia SWCC and Marafiq Yanbu power and water desalination plant 11-Dec
UAE Centre of Waste Management – Abu Dhabi Integrated waste management project 23-Dec
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The UAE witnessed a 0.2 per cent decrease in the value of projects planned or under way to $909bn from the previous week as the country’s real-estate sector continues to suffer from the impact of the financial crisis. In all, eight projects were put on hold in the UAE this week, including six projects in the emirate of Ajman.

Saudi Arabia, the region’s second biggest projects market, saw a 0.3 per cent fall in the value of projects planned or under way due in part to two major project being stopped – a steel plant in Dammam that was cancelled and a wastewater scheme in Riyadh was put on hold.

Project updates this week
  Project Name Project Status
Qatar Conversion of Prilled Urea To Granulated Urea Project Study
Kuwait Al-Zour IWPP Prequalification
Saudi Arabia Subsea Pipelines Tender
Kuwait College Of Science, Sabah al-Salem campus Tender
Qatar Qatar Foundation headquarters  Tender
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The project markets in Kuwait, Oman and Qatar all recorded a positive growth on the previous week. Oman achieved the biggest rise, with a 0.6 per cent increase in the value of projects planned or underway from the week before. Bahrain recorded no change from the previous week’s index.

Outside the GCC, Iran and Iraq both recorded a decrease in the value of projects planned or under way, with falls of 0.1 per cent and 0.3 per cent respectively.

The overall projects index is still positive when compared with the previous year, with the Gulf achieving a 9.0 per cent year-on-year increase.

Iraq maintains its position as the region’s fastest growing market by recording a 121.7 per cent year-on-year increase.